LYRASIS was created in April 2009 from the merger of SOLINET and PALINET, two US based library networks. NELINET, the New England library network, also merged into LYRASIS in late 2009. In January 2011, the Bibliographical Center for Research, Denver, CO (BCR) phased out operations and joined LYRASIS. 
LYRASIS partners with member libraries, archives and museums and other cultural heritage organizations to create, access and manage information with an emphasis on digital content, to support collaboration, to extend operations and technology, and to facilitate joint purchasing. LYRASIS Digital helps support digitization efforts, allowing member organizations to enrich, expand, create, host, support, manage and share their important, and often unique, collections.
A non-profit membership organization, LYRASIS was established, in April 2009, with a collective history of legacy networks that dates back to 1936. LYRASIS continues its mission of supporting information professionals by offering creative solutions and increased savings opportunities.
LYRASIS supports a diverse membership that includes academic, public, special, and school libraries, as well as archives museums and state libraries.
The name LYRASIS is "inspired by the constellation of Lyra...” and the suffix, “sis” which denotes a process of change.
In June 2015, Robert Miller replaced Kate Nevins as the Executive Director of LYRASIS.